– BERMUDA, Hamilton – Arch Capital Group Ltd. (NASDAQ:ACGL) today announced that, effective October 1, 2017, Nicolas Papadopoulo will become Chairman and CEO of Arch Worldwide Insurance Group and Chief Underwriting Officer for Property & Casualty Operations. Mr. Papadopoulo, who joined Arch in 2001 and currently serves as Chairman and CEO of Arch Worldwide Reinsurance Group, will succeed David McElroy, who elected to transition from his role to spend more time with his family. Mr. McElroy will continue with the Company as Vice Chairman of Arch Worldwide Insurance Group. Maamoun Rajeh, who also joined Arch in 2001 and currently serves as President and CEO of Arch Reinsurance Ltd. (Arch Re (Bermuda)), has been promoted to the position of Chairman and CEO of Arch Worldwide Reinsurance Group.
Dinos Iordanou, Chairman of the Board and CEO of Arch Capital Group Ltd., said, “Our ability to promote from within is another indication of the depth and strength of the management team we have built at Arch. Under the leadership of the continuing senior teams led by Nicolas and Maamoun, the strategic direction of the Company will not change. We are confident that our insurance and reinsurance operations will continue to deliver outstanding results for our shareholders and clients.”
Marc Grandisson, President and COO of Arch Capital Group Ltd., added, “Having worked with Nicolas and Maamoun since the inception of Arch, I have a lot of confidence in them and am very pleased that they will lead our talented insurance and reinsurance teams. We also appreciate David’s significant contributions over the past eight years and are extremely pleased with his continued active participation with the Company moving forward.”
Mr. McElroy commented, “It has been a pleasure working with our top notch insurance group team in continuing to establish Arch as a significant participant in the worldwide insurance marketplace, and I am confident that the existing insurance leadership team led by Nicolas will build on our success. I look forward to continuing to contribute to the Company through my ongoing role and working with Nicolas to ensure a smooth management transition.”
Mr. Papadopoulo has over 30 years of experience in the insurance industry and has previously served in various senior executive positions at Arch, including Chief Underwriting Officer of Arch Re (Bermuda) and President and CEO of Arch Re (Bermuda), as well as Chairman and CEO of Arch Worldwide Reinsurance Group. Mr. Rajeh has over 25 years of industry experience and has previously served as Chief Underwriting Officer of Arch Re (Bermuda) and President and CEO of Arch Re Europe, as well as President and CEO of Arch Re (Bermuda).
Arch Capital Group Ltd., a Bermuda-based company with approximately $11.13 billion in capital at June 30, 2017, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
For more information : https://www.archcapgroup.com
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